UPI is a popular payment method for online transactions. Until now, UPI payments could only be made in India, but now this bank is allowing UPI payments from abroad.
IndusInd Bank introduced it. IndusInd Bank has launched a cross-border UPI ID payment service for Indians working abroad. It has partnered with the National Payments Corporation of India (NPCI) (NPCI).
The bank will now allow its MTO partners to call money from abroad using UPI ID. Thus, IndusInd Bank became the first bank in the country to accept UPI payments from abroad.
Currently, IndusInd Bank is the first to offer this service in Thailand. Thailand’s DeeMoney will connect to NPCI via IndusInd Bank to offer UPI payment services. The UPI ID of the recipient will then receive the funds directly into his account.
To send money from Thailand, one enters the sender’s UPI ID on DeeMoney’s website, which verifies it.
Payments via UPI from abroad will be simple and free of account details. Because only UPI ID is required. The sender will no longer need to remember the account number and IFSC code. No lengthy forms will be required.